Costa Rica Economic Activity February 2017

Costa Rica

Costa Rica: Growth in economic activity slows for third consecutive month in February

April 11, 2017

In February, economic activity in Costa Rica increased 3.9% from the same month a year earlier, according to the monthly index of economic activity (IMAE, Incide Mensual de Actividad Económica) calculated by the Central Bank of Costa Rica (BCCR), coming in well below January’s revised 4.6% rise (previously reported: +3.8% year-on-year). The print marked a third consecutive monthly deceleration of the index and the lowest reading since August 2016. The slowdown was driven by more moderate growth in the manufacturing sector, however, activity in the construction sector rebounded from the previous month’s contraction.

Compared to the previous month, economic activity increased 0.23% in February, coming in below January’s 0.33% rise. Meanwhile, the annual average growth in economic activity was 4.8% in February, which was down from 4.9% a month earlier.

The BCCR expects the economy to expand 4.1% in both 2017 and 2018. FocusEconomics Consensus Forecast panelists expect GDP growth to reach 4.1% in 2017, which is up 0.1 percentage points from last month’s forecast. In 2018, our panelists expect GDP growth to edge down to 3.9%.

Author:, Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity February 2017

Note: Year-on-year changes and annual average variation of trend-cycle economic activity in %.
Source: Costa Rica Central Bank (BCCR).

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